Above: survey response on whether respondent’s media house received political ads During the quarter, there were no instances of electricity loadshedding (other than scheduled maintenance shutdowns) as observed in previous quarters. Media houses, thus, had stable supply of electricity and did not have to use alternative sources such as solar and generators which are usually more costly alternatives. Overall, the economic environment in the quarter under review posted a more positive outlook compared to the second quarter. The quarter witnessed a notable improvement in economic activity, appreciation of the currency (which translated into lower cost of inputs), stable electricity supply and increased political advertising and sponsorship. These developments eased the burden born by the media in the previous quarters which experienced a gloomy economic outlook. Notwithstanding, however, the COVID-19 pandemic still remained rife for the most part of the quarter, thereby constraining media operations to a certain extent. Further, while the developments in the quarter were mainly positive, a high level of uncertainty remains with regard to sustainability of this economic trajectory, with certain variables resuming an upward trend at the close of the quarter, albeit marginal. 29